One year after the outbreak of the health crisis, investment strategists are still very action-oriented. The term TINA (there is no alternative) will not lose its meaning in 2021. Today, the investor who wants to generate performance must invest in equities. The performance of high yield bonds no longer justifies taking so much risk in the face of the performance of equities which present an almost equivalent risk. But neither does TINA mean that you have to invest your entire portfolio in equities. We must not lose the notion of risk either.